Citadel uses a multimanager structure in which several portfolio
managers run independent funds with different strategies.
Multimanagers are known for having strict risk constraints for
their portfolio managers.

About three quarters of the fund's losses came from the fund's
Surveyor Capital arm, the Bloomberg report said.

The Wall Street Journal reported last month that the Surveyor
arm cut about a dozen of its 200 employees after experiencing
losses at the beginning of the year. The unit also replaced its
longtime head, Jon Venetos, back in January.

"Surveyor Capital portfolio managers use a fundamental, bottom-up
research process, primary due diligence and intensive modeling to
construct portfolios that focus on alpha generation while
remaining beta-neutral," according to
Citadel's website.